Adding to over 60 licensees for Nokia tech taken out by manufacturers previously
LG Electronics has agreed to take a royalty-bearing smartphone patent license from Nokia Technologies.
The Korean company is the latest of more than 60 licensees for Nokia’s 2G, 3G and 4G mobile communication technologies and the first major smartphone manufacturer to join the licensing programme since Nokia divested its Devices & Services business to Microsoft in 2014.
Said Ramzi Haidamus, president at Nokia Technologies: “We are pleased to welcome LG Electronics to our licensing programme. We’ve worked constructively with LG Electronics and agreed a mutually beneficial approach, including the use of independent arbitration to resolve any differences. This agreement sets the scene for further collaboration between our companies in future.”
The detailed royalty payment obligations will be subject to commercial arbitration, expected to conclude within a one to two year timeframe. Other terms of the agreement remain confidential between the two companies.
